Jupai Announces US$10 million Share Repurchase Program
Jupai Holdings Limited American Depositary Shares, each representing six ordinary shares (JP)
US:NYSE Investor Relations:
jupai.investorroom.com
Company Research
Source: PR Newswire
SHANGHAI, Feb. 26, 2020 /PRNewswire/ -- Jupai Holdings Limited ("Jupai" or the "Company") (NYSE: JP), a leading third-party wealth management service provider focusing on distributing wealth management products and providing quality product advisory services to high-net-worth individuals in China, today announced that the Company's board of directors approved a share repurchase program under which the Company is authorized to repurchase its American depositary shares ("ADSs") with an aggregate value of up to US$10 million over the next 24-month period.Mr. Jianda Ni, Jupai's chairman of the board and chief executive officer, said, "This share repurchase program demonstrates our confidence in the long-term growth prospects of Jupai and the overall wealth management industry in China. We remain committed to strengthening our business operations and enhancing value for our shareholders."The share repurchases may be made from time to time on the open market at prevailing market prices, in
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